Intuitive Machines (NASDAQ:LUNR) Shares Up 2.1% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was up 2.1% during mid-day trading on Tuesday . The company traded as high as $18.30 and last traded at $17.26. Approximately 3,969,054 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 14,554,187 shares. The stock had previously closed at $16.91.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LUNR shares. Benchmark boosted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group boosted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald upped their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, B. Riley raised their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Price Performance

The firm has a 50 day moving average of $14.76 and a 200-day moving average of $8.93. The stock has a market capitalization of $2.68 billion, a P/E ratio of -6.48 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 74,248 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $8.03, for a total transaction of $596,211.44. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at $28,062,987.04. This trade represents a 2.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,954,713 shares of company stock valued at $24,475,385. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Sender Co & Partners Inc. acquired a new stake in Intuitive Machines during the second quarter valued at approximately $56,000. Waldron Private Wealth LLC acquired a new stake in Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines in the third quarter valued at $85,000. SG Americas Securities LLC bought a new stake in Intuitive Machines in the third quarter valued at $93,000. Finally, Creative Planning acquired a new position in Intuitive Machines during the third quarter worth $105,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.